Deloitte WA Index up 1.7% in November

The market capitalisation of WA listed companies has continued to rise, up 1.7 per cent to $178 billion in November, according to the latest Deloitte WA Index.

The increase was on the backdrop of debt fears in the European markets that saw the FTSE 100 fall two per cent and the All Ordinaries fall 1.2 per cent.

Deloitte managing partner, Keith Jones said a slow recovery is predicted for the European Union.

"Greece's debt crisis is still fresh in investor's memories, and the European Union's €85 billion bailout for Ireland has also put pressure on markets in Portugal and Italy," he said.

"The instability in Europe has also contributed to the ongoing investment in precious metals," said Mr Jones.

Precious metals continued their strong performance with gains in silver (up 13.6 per cent), palladium (up 7.8 per cent) and gold (up 3.3 per cent) over November.

Iron ore also jumped in value with a rise of 12.5 per cent however there were significant declines in zinc (-12.2 per cent) and lead (-8.8 per cent) and smaller declines across most of the other commodities.

According to the Deloitte Index, the 'Movers and Shakers' in November were Bathurst Resources, Coalspur Mines and Ampella Mining.

The market capitalisation of Bathurst Resources increased from $93 million to close the month of November at $324 million, an increase of $231 million or 247 per cent.

Coalspur jumped 34 places in the Deloitte WA Index over the last two months, from 61 to 27 at November 30.

The company's market capitalisation has increased by $518 million during this time, to close the month of November at $869 million.

Ampella Mining increased its market capitalisation by $188 million during the month, from $456 million at 31 October to $644 million at 30 November.

The increase reflected an increase in the company's share price by 41 per cent, amidst positive results from its Konkerra project.